Interviews

Montenegro wants to boost growth through investments, undergo fiscal consolidation and cut state spending by the end of 2012 and in 2013 to offset economic downturn and secure growth, its finance minister said in an interview...

,,We strongly believe in the future and stability of the euro," says Stankovic. ,,If the currency would collapse, we would have the same arrangement as more than a decade ago." In short, the country would follow Germany. ,,We have not made that choice", she says almost apologetically. ,,The citizens did. The market always finds the best solution."

The country plans to reduce its government debt to 35 percent of GDP by 2015 from some 45.5 percent this year, Katnic said, adding that this ratio is due to fall 2 percentage points in 2012 when GDP is seen expanding 3.5 percent after 2.5 percent growth in 2011...

When all our achievements are found at one place, as you enumerated them now, a very nice feeling of proudness and satisfaction over the things that have been done is experienced. This overview of the past period and praises obtained by Montenegro from the international institutions represent a confirmation of its political and economic maturity...

The role of the IMF changed significantly under the influence of the crisis, which in addition to the changes in the financial capital and voting powers distribution, resulted in launching of a “more resilient“ credit lines. In late September 2010, the IMF had introduced the Precautionary Credit Line (PCL), i.e. the precautionary line. During the IMF and the World Bank annual meetings held last year in Washington, the PCL was presented to Montenegro. However, the formal arrangement with the IMF was not subjected to discussions since our goal was to finance budgetary needs through the Eurobonds issue...

The circles of so called debtors and creditors’ relationships have been created. One should be careful when considering the possibility of introducing multilateral compensation as an instrument. Credit growth is not only the consequence of the bank’s readiness to grant loans, but it arises also from the existence of sufficient level of credible and profitable projects. The cooperation between the banks and the Ministry of Finance has been very successful on an ongoing basis. Currently, we are under preparation of the new issue of Eurobonds which should be realised in the first half of the year. The arrangement with IMF through credit facility... Mental transition is the slowest one and the most difficult to achieve. We can speak about gradual recovery after recession – this scenario anticipates moderate recovery and growth of 2.5-4.0 percentages in period 2011-2013...

Fewer are the reasons for satisfaction with the manner of investments funds functioning. There are exceptions, but funds operation was, to the greatest extent, focused on attaining the interest of the management companies, their owners and managers....

PODGORICA - New Eurobonds issue will be carried out in the first half of the year and the maximum planned borrowing, envisaged by the Budget for this year, amounts to EUR 180 million, while anticipated borrowing with multilateral financial institutions amounts to EUR 53 million for infrastructural projects financing, said Milorad Katnić, PhD., Finance Minister in an interview to “Pobjeda”. He said that this year’s objective is to reduce public spending to 44.5 percent of GDP. Katnić, who is the youngest Minister in the Government of Igor Luksić, says that, regardless of the fact that Montenegro has emerged from recession, the state bodies should further endeavor in spending taxpayers' money more efficiently...